PM announces new telecom group
New Delhi: The government will constitute a group headed by finance
minister Yashwant Sinha to address the issues in the telecom sector. Prime minister Atal
Behari Vajpayee, addressing the72nd annual session of the Federation of Indian Chambers of
Commerce and Industry, said the group will deal with problems facing the telecom sector in
the country.The prime minister, admitting that
several problems still persist in the sector, said laws need to be enacted to strengthen
the Telecom Regulatory Authority of India, to replace the Indian Telegraph Act, which is
104 years old, and to implement the Internet service providers’ policy. The new group
will look into all aspects of these problems, Mr Vajpayee said.
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Cash payment norms
amended
New Delhi: The government will allow cash payments of up to Rs 20,000
instead of Rs 10,000 following rationalisation of income tax rules. The Central Board of
Direct Taxes has issued a notification omitting 13 income tax rules and forms and amending
four others to carry out the rationalisation. At present, payments over Rs 10,000 can be
made only by crossed cheque or bank draft.
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